Important Dates for the 2017 Crop Year
In 2017 there are several important deadlines for landowners, farmers and producers to be aware of. Whether you need to enroll into government programs for ARC OR PLC or simply need to discuss a CRP project or contarct, here are some of the most important dates for enrollment, applications and farm loans in 2017.
Continuing through August 1, 2017: Enrollment for 2017 Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs
January 31: Deadline to file Tree Assistance Program (TAP) application
February 2: Deadline to apply for Loan Deficiency Payments (LDP) for unshorn pelts produced during the 2016 crop year
February 20: Offices closed in observance of George Washington’s Birthday
March 15: NAP application closing date for beans, beets, broccoli, brussel sprouts, cabbage, canola, cantaloupes, carrots, cauliflower, corn, cucumbers, eggplant, garlic, greens, herbs, honeydew, hops, lettuce, oats, okra, onions, peas, peppers, potatoes, pumpkins, radishes, sorghum, squash, tomatillos, tomatoes, and watermelon
March 20: Organic producers and handlers can begin to apply for organic cost share assistance
March 31: Final date to obtain loans or Loan Deficiency Payments (LDP) on 2016 harvested small grains
Most people would agree that educating our youth about responsible money management, record keeping, and business operation are important keys to success. Programs and clubs like 4-H and FFA are the best examples of watching young people develop lifelong skills of responsibility, confidence and a sense of community. A unique program available from the local Farm Service Agency is available to qualified applicants that help our youth get started with income-producing projects such as 4-H livestock and even small businesses.
“The FSA Youth Loan Program teaches young people about the responsibility that comes with money, paying it back the bank, and how to complete a project from start to finish.”
The Farm Service Agency makes loans to youth to establish and operate agricultural income-producing projects in connection with 4-H clubs, FFA and other agricultural groups. Projects must be planned and operated with the help of the organization advisor, produce sufficient income to repay the loan and provide the youth with practical business and educational experience. The maximum loan amount is $5000.
“The process for application and approval is really quite simple and streamlined.”
Youth Loan Eligibility Requirements:
- Be a citizen of the United States (which includes Puerto Rico, the Virgin Islands, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands) or a legal resident alien
- Be 10 years to 20 years of age
- Comply with FSA’s general eligibility requirements
- Be unable to get a loan from other sources
- Conduct a modest income-producing project in a supervised program of work as outlined above
- Demonstrate capability of planning, managing and operating the project under guidance and assistance from a project advisor. The project supervisor must recommend the youth loan applicant, along with providing adequate supervision.
For more information Stop by the local Indiana FSA office for help preparing and processing the application forms.
Rare, Once-in-a-Lifetime Opportunities
We are very proud to bring to market a unique, curated collection of wooded, riverfront and hunting or conservation properties in the infamous Wabash River Corridor.
Legacy Wooded Property in the Shawnee Bottoms & Wabash Erie Canal
In our ongoing efforts to bring fine sporting property and conservation land to our many buyers, these tracts of land for sale provide many opportunities for buyers of all types to achieve their dreams of owning wooded land in Indiana.
- 5 seperate tracts ranging from 5 to 70 acres
- Miles of Wabash River Frontage
- Nestled near the renowned NICHES Land Trust Shawnee Bottoms & Portland Arch
- Dense Woods, Open Meadows & more!
- Ability to bundle or move boundary lines to meet your goals
- 50 Acres Wooded Property for sale
- 37 Acres Land For Sale
- 70 Acres for sale
- 11 Acre Wooded Hunting Property
- 5 Acres Woods for Sale
For more information on these parcels, Call Land Broker & Advisor, Johnny Klemme at 765-427-1619
Geswein Farm & Land is the leading land real estate company in Indiana with a complete focus on Conservation Properties, Wooded Land and Agricultural Farmland. We believe in creating win-win opportunities for buyers and sellers with careful attention to service and detail. Our extensive experience with all things land – from conservation easements, CRP, EQUIP, WHIP, hunting opportunities to conservation agriculture techniques – coupled with our passion for your success are why we are the “go-to” Land Man.
When it’s time to buy or sell wooded property and land, talk to the land brokers who understand.
As specialists in wooded land in West Central Indiana, we’re very fortunate to have this great opportunity to explore, share and help you our valued buyers with the purchase of your dream property in rural Indiana.
The Commodity & Futures Market Veteran Weighs in on Pricing the 2015 Crop
He grew up just south of Lafayette, Indiana and attended Darlington High School – today he’s known around the globe by farmers and investors for helping to take as much risk out of farming and marketing as possible. Since 1980, Richard Brock and his team of commodity experts have been producing the Brock Report, a 20 page weekly newsletter and daily market commentary, 3 times per day, on the state of corn, soybeans, livestock and more. Today, the Brock Report manages grain sales on approx. 700,000 acres in 14 states and strives to educate people on more than just the price per bushel, but market dynamics, historical trends and risk management.
I visited with Richard Brock’s team during a seminar in Lafayette, Indiana and had the opportunity to speak privately with Richard Brock himself to get his opinion on the current state of the corn and soybeans markets, pricing and go-forward plans.
The Markets Today
“We are in a supply driven weather market. Once you identify what kind of market you’re in, you can identify how those markets are going to behave.” – Richard Brock, The Brock Report June 2015
Explain the type of market we are seeing in June 2015 and your outlook?
According to Brock, “Supply driven weather markets are very short and they cause the market to spike. Markets like this typically don’t last long and we move through them very quickly, immediately followed by a market drop. All supply driven weather markets react in the same patterns and the odds are very high that we will have a top in this market before the middle of July. It wouldn’t surprise me to the top of this market trend before the 4th of July.
We’re getting to price levels now with both corn and soybeans that are going to be significantly above what we think the market will average for the year. Our approach is to look for a place to start scale-in selling because markets like this can, in one day, (for soybean prices) have a 30-40 cent trading range and corn with a 20 cent trading range. You need to have orders sitting there on a scale-out sale or you’re not going to realize the price benefits of this weather pattern.”
How does a weather driven market affect supply?
“Unless it keeps raining for the next 2 months, the crop that is drowned out in low areas is generally offset by crops sitting in the higher ground. Traditionally speaking you don’t get a huge cut in yields in a weather rally. In fact this is perhaps only the second weather rally I have seen in 35 years that is caused by too much rain during this time of the year. All said, it’s a very unusual situation to have this kind of weather market for corn and beans here in June 2015.
Supply driven weather markets perform similar to a drought weather market except that they typically turn and go much lower. Drought markets tend to hurt yields more than rain markets. The old adage “rain makes grain” generally rings true.”
“This is a market that will present some excellent opportunities for farmers to sell into, but it’s always about timing and preparation.”
What is your take on pricing the 2015 crop?
“Our goal and objective is that sometime here before mid-July we lock in a good percentage of this years crop. If December corn futures get above $4.15 to $4.20, we’ll look at this as an opportunity to, in some cases, get as much as 70% of this new crop sold. We believe those prices are far above what the market will average. In the case of soybeans, we are looking for the market to get above $10.30 and if it does, we’ll go to nearly 70% sold for the new crop.”
“This is a rally that we will be aggressive on.” – Richard Brock, The Brock Report
Looking historically, we’re not going into a bull market like we did in 2012 and we have a very large carryover of supply. Many estimates say that today’s carryover of corn is about 1.8 billion bushels, whereas back in 2012 there were approximately 800 million bushels of carryover.
What are your thoughts on old crop sitting in storage?
“Having old crop is very similar to baseball in that, you’re in the 8th inning, down 10 to 0, and there are two outs. It’s time to start thinking about tomorrow’s baseball game, take this rally, move that old crop and start thinking about next year.”
What factors are playing a role to help the American farmer?
“First off, the opportunities to market crops at much higher price levels have been there for a long time. The market has given farmers a lot of opportunities, some have chosen to take advantage of that and some have not. Look for price rallies like the one we are in today and make the most of it by doing a lot of forward selling. Think about the technology available to increase yields, when prices are down and you need to increase revenues, there are ways to better manage your operation to get the most out of your soils. Whether it’s new planter technology with multi-hybrid & variable rate potential, or getting the most out of nitrogen and chemicals, it’s amazing what can be done today.”
There are several schools of thought on the outcome of a strong market vs. a low market, but there are plenty of good things that can come out of low prices. When markets are down, it forces people to rethink their bottom line while, improve their management skills, and puts more emphasis on every marketing decision. Whether you agree with that or not, it’s clear that pricing today’s crop means paying more careful attention to the spikes and drops. When corn was $7.50, selling at $6.00 still meant a lot of great profits, but when a break-even hovers around $4.00, missing out on 50 cents is not be taken lightly. The sentiment among the farmers, producers, and agribusiness professionals I speak with daily is that you’ve got to take the time to learn to be a solid grain marketer. Going forward what will you do differently?
I welcome your comments, feedback and suggestions on this topic and all things Ag related
– shoot me an email at johnny (at) prairiefarmland.com
Want to learn more about The Brock Report? visit them online at www.brockreport.com
As a full service commodity marketing agency, the Brock Report offers their customers:
- Daily Market Commentary via the web or smartphone app
- The Brock Report Newsletter – For over 30 years, a leading source of market intelligence and insights
- MarketEdge – highlights changes in USDA estimates, carryover, acreage & production that impacts commodity markets
- MarketWeatherEdge – weather risk analysis and commodity market intelligence
About the Author
The Back Forty is a syndicated column written by Published Author & Purdue Graduate Johnny Klemme. His reporting, interviews with Ag Experts and more can be found at www.Prairiefarmland.com/blog
It’s no secret that the corn and soybean fields and farms in Indiana have gotten plenty of rain in 2015. We asked our friends at Zumwalt Aviation, an aerial seeding, spraying and application company in Sheldon, Illinois to give us a view of from above. Below is an image gallery that shows the ponding that still exists throughout much of the corn belt including farms in Indiana and farmland in Illinois.
*Note that you can see ponds, nitrogen streaking and loss of nutrients dues to heavy rainfall.
The Commodity Markets according to John Perkins from Brownfield Ag News
An Interview with the Nationally Syndicated Radio Host
You’ve heard him on your local radio station for years, the distinguished voice bringing you the latest news and reports on the Commodity Market. He’s been relied upon for market predictions and trends in the future of corn, soybeans, wheat, cattle and hogs and is recognized as one of the premier commodity market reporters in the country. While he understands the importance of the markets to Ag communities across the country, John Perkins is more than just the voice, he’s an advocate for vital role that American Agriculture plays in our local and global economies.
“The global agriculture market is like a set of dominoes, you flip one and you’re going to knock a lot of others down.” – John Perkins, Brownfield Ag News
I caught up with John Perkins as he sat in the Brownfield Ag News studios in Jefferson City, Missouri where his Commodity Market Reports are broadcast to over 380 radio stations in 10 states, and got the inside scoop from one of the nation’s leading broadcast journalists.
“Without a doubt, the number #1 factor affecting the price of corn and soybeans is the surplus supply,” said Perkins without hesitation. We have much larger supplies of corn and soybeans than we’ve had over the last several previous marketing years. On top of that, big corn crops in Argentina and Brazil are affecting the price along with South Africa’s recent bounce back.
In terms of other sectors in agriculture affecting corn and bean prices, Perkins commented on livestock saying, “Low livestock numbers also play a role in the price and today we are not feeding as many cattle or hogs. The PEVD epidemic has had a big effect on livestock numbers and to some degree, avian influenza are contributing to the current pricing trend.”
Perkins went on to reflect on the American dollar, stating that “recent dollar strength is definitely having a negative impact on commodity prices. A stronger dollar in a larger sense is typically a good thing for America, but in terms of agriculture and dollar-denominated commodities on the export market it’s not exactly that. U.S. corn and soybeans become higher priced and in turn reduce the export demand – we see this coming into play with corn in particular, but not so much with soybeans.”
With a tone of concern, Perkins said, “Well, unfortunately, it would probably take a massive crop failure to turn the market around. That’s something that no one wants to see, myself included.
If we stay in this El Nino weather pattern that is expected to happen this summer, we’ll probably see another bumper crop. This marketing year we are starting to see signs for an expansion of supply and that continuing into the next two years as well.
Looking back, we ended the 2013-2014 marketing years with ending stocks of soybeans as 92 million bushels and it’s only grown since. All in all, improved efficiencies, favorable weather, and scientific advancements in hybrid seeds and treatments are all connected to current state of the markets.
“Anyone with an interest in agriculture is practically required to have some knowledge on a variety of topics. But what excites me most is the potential for agriculture to expand, be more influential, and be more integrated into the lives of more Americans. Food insecurity for many people across the globe will continue to be driving force toward innovations and the success of American farmers.”
“As much as we might want to stake our pride on the quality of the grains we produce, we have to recognize that we face competition from a lot of countries that are expanding their infrastructure at a greater rate than we are.
As recently as last year, America has faced infrastructure and transportation issues that have affected our ability to get commodities out into the market faster than other countries. Long-term, these larger issues should be addressed – getting better at shipping and transportation and getting our grains to market faster are key drivers for our long-term success.”
“Right now we are in a supply bearish environment and it’s a market we haven’t seen in quite some time,” added Perkins.
Interviewing Perkins was a good exercise supply & demand economics. John’s keen on the ways our national and global politics continually shape our agricultural future and ultimately our agricultural heritage. I think John would be the first to say that he doesn’t have a crystal ball into the future of agriculture, but he’s keeping a close watch on the pulse and will continue to be a strong voice each step of the way.
How can you listen to John’s Commodity Reports?
Tune in locally on the radio or visit www.BrownfieldAgNews.com
P.S. : I asked John to give us the run down on The Top 5 Best Places to Eat in Jefferson City, Missiouri
…here they are
Best Restaurants to Eat at in Jefferson City, Missour
The go to for smoked meats, ribs and more. John Perkins recommends you make a visit here first!
Try the steak or polenta cakes… a sure fire win according to Perkins!
As far as international cuisine is concerned, Suwaddee delivers on every pad Thai dish on the menu. “The curry wont’ disappoint either,” said Perkins.
For the best in Nepalese, Korean and Indian cuisine, Perkins suggest you stop at the Everest Cafe on Missouri Blvd.
You’ll have to keep tabs on their location, but it’s worth searching them out! The jerk chicken is mouth watering!
About the Author
The Back Forty is regular column written by Published Author & Purdue Graduate Johnny Klemme. His reporting, interviews with Ag Experts and more can be found at www.Prairiefarmland.com/blog
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